MTN shares up 2% on possibility of reduced repatriation demand

8th October 2018

By: Reuters

  

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South Africa's MTN Group shares rose as much as 2.55% after the Nigerian central bank governor said on Sunday the bank may reduce the amount it has ordered the telecoms firm to repatriate as part of an ongoing disagreement.

MTN and the central bank are in a dispute over the transfer of $8.1 billion of funds which the bank said the company had sent abroad in breach of foreign-exchange regulations. At 0837 GMT shares in MTN were up 2.03% to 85.50 rand.

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Edited by Reuters

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